Nobl Insurance Predicts Mass Adoption of Crypto is just Around the Corner With 1 in 10 Crypto Owners in the U.S. By 2020
04 Dec, 2019, 14:46 GMT
- With 1 in 10 crypto owners in the U.S., by 2020 ownership will reach the tipping point that leads to mass adoption
- 1 in 5 U.S. millennials will hold cryptocurrency by 2021
- Stellar rise of IoT devices will pose the biggest security risk by 2025
- By 2030 70% of Americans will own cryptocurrency—the same levels of adoption as credit cards
- Banks who scorned digital currencies will embrace them
DETROIT, Dec. 4, 2019 /PRNewswire/ -- Hardly a day goes by without a new tweet, post, article or opinion piece either announcing the imminent death of crypto or hailing its brave new dawn. We believe it's time for a cool, hard look at where the industry has gotten to so far, and a gaze into some of the possible worlds that lie ahead. nobl's research analysts and innovation team have come up with the top predictions for 2020 and beyond, based on current developments in the world of digital currency.
Commentating on the report, Greg Wixted, Chief Innovation Officer at nobl says:"Our accurate telephone based research predicts that crypto ownership in the U.S. will top the 25 million mark by the end of 2020, meaning that 1 in 10 Americans will be crypto owners." He continues: This is significant because scientists at the Rensselaer Polytechnic Institute in New York have discovered that when just 10% of the population holds an unshakable belief, this belief will always be adopted by the majority of society. So, we believe this will be the most exciting year for crypto yet, the year where we finally reach the tipping point that leads to mass adoption of crypto currency."
CRYPTO MASS ADOPTION IS AROUND THE CORNER
Multiple research sources all point to the same conclusion that ownership of crypto currencies is accelerating in the U.S. Finder, an Australian-owned comparison site, predicts that the number of American crypto holders has almost doubled, from 7.95% in 2018 to 14.4% in 2019, an increase of 81% in just 12 months. YouGov, the popular online pollster, supports this with a figure of 14.5%.
1 IN 10 AMERICANS WILL OWN CRYPTOCURRENCY IN 2020—TIPPING THE MARKET INTO MASS ADOPTION
At nobl we have commissioned accurate telephone-based research that suggests crypto ownership in the U.S. will top the 25 million mark by the end of 2020, meaning that 1 in 10 Americans will be crypto owners. Research from scientists at the Rensselaer Polytechnic Institute in New York has discovered that when just 10% of the population holds a firmly held belief, this belief will spread until it is adopted by the majority of the society. This would indicate that the magical 10% level will finally be the moment when crypto moves to mass adoption
BY THE END OF 2021, 1 IN 5 U.S. MILLENNIALS WILL HOLD CRYPTOCURRENCY
If you are an American millennial, one of your close friends will be a crypto convert by the end of 2021, amounting to 15 million U.S. citizens of that age group.
ORGANIZATIONS AND RETAIL—FROM UNICEF TO STRABUCKS—ARE STARTING TO EMBRACE CRYPTO
Crypto payment is spreading fast. Charities, organizations and retail are all joining the crypto revolution. Amazon's Whole Foods, Nordstrom, Starbucks and dozens of other companies have started to take bitcoin payments, while employees from corporate giants such as Facebook, Google, American Express, GE Comcast and Airbnb have been accepting crypto as a method of renumeration. KFC Canada has even offered a "Bitcoin Bucket" delivered straight to your door.
CRYPTO & BLOCKCHAIN FINANCE COMES INTO ITS OWN
STABLECOIN WILL DRIVE FASTER ADOPTION
Stablecoin may ultimately provide a road map to more widespread adoption by offering reduced volatility and the kind of stronger oversight associated with government regulations.
IN 2020 BANKS WHO CONDEMNED CRYPTO WILL OPEN THEIR ARMS AND EMBRACE IT
The banking industry has accepted that digital currencies are here to stay, investing in both cryptocurrency and blockchain start-ups. J.P. Morgan is developing "JPM Coin" and is a supporter of Ripple, Santander has been investing into Securitize, the Coinbase-backed token issuance protocol, while RBC Royal Bank has been working on a blockchain-based payment system.
70% OF AMERICANS WILL OWN CRYPTOCURRENCY BY 2030, MIRRORING ADOPTION OF CREDIT CARDS
The levels of adoption will equal those of credit cards today, representing 70% of all Americans! By this stage we expect the digitization of a whole raft of major economies, including the US dollar!
SPENDING & USING CRYTPO WILL BE SIMPLE & EASY
Usage will be transformed by the development of a killer crypto app, the equivalent of Gmail or Uber. It could be a new kind of browser, or an evolution of the hot wallet, but eventually the industry will come up with a game changer that will drive universal acceptance.
IN 2020 CRYPTO WILL BREAK INTO E-COMMERCE GARNERING $1BILLION U.S. CRYPTO TRANSACTIONS
By the end of 2019 the U.S. market e-commerce market will be worth $586.92 billion. With over 30 crypto-enabled debit cards currently on the market, it's easier than ever for people to spend their crypto both online and in the real world. If crypto can cash in on even a paltry 1% of the U.S. e-commerce market, this would represent nearly $6 billion of transactions! So, $1 billion is a conservative estimate.
BY 2030 A THIRD OF ALL TRANSACTIONS WILL BE ON THE BLOCKCHAIN
With the attraction of low fees and instant transactions, consumers will become convinced of the advantages of the blockchain, so the sector is set to soar over the next decade.
ADVANCED BLOCKCHAIN TECHNOLOGY BEYOND CRYPTO
BLOCKCHAIN THAT POWERS CRYPTO WILL REVOLUTIONIZE THE ENERGY ECOSYSTEM
Clever entrepreneurs have been calculating how they can put the energy output of the mining process to work; for example, the Heatmine start-up has been placing its cryptocurrency miners in buildings that can benefit from their excess heat, maximizing crypto mining profits while minimizing its footprint on the energy grid.
THE COLLISION OF BLOCKCHAIN AND ARTIFICIAL INTELLIGENCE
The increasing use of AI is here to transform the world of crypto mining. AI could allow mining in a more intelligent and efficient way, boosting mining performance anywhere between 15 and 30 times and solving the sustainability crisis for crypto.
2020 WILL BE THE YEAR WHEN THE BLOCKCHAIN MEETS THE IoT
Internet-enabled devices will update the blockchain with personal details, which in turn will enable a financial institution to customize products like on-demand insurance and self-insuring devices.
2020 WILL SEE CRYPTO WALLET FOR AUTOS
A partnership of five major automotive makers recently announced field tests of a blockchain-based vehicle identification system that would allow drivers to pay tolls and fees automatically, with Daimler even being set to launch a hardware crypto wallet for autos.
WITH THIS MUCH INNOVATION COMES RISK
BY 2025, IoT COULD BE THE BIGGEST SECURITY RISK TO US ALL
With 20 bn IoT devices in play by 2025, mobile phones and networks could provide attackers with instant access to vulnerable networks, with AI helping criminals bypass generations of technical controls, including biometrics.
We have only touched the tip of the iceberg and it's only a matter of time before the path to the future emerges and makes itself clear. One thing for sure is that the genie is out of the bottle. So, if the worst to happen is your exchange being hacked and you suffering a loss, noblCRYPTO will be there to pick up the pieces.
For deeper insights on each of our predictions and trends, you can download our free report from our website www.noblinsurance.com or click the link http://bit.ly/nobld2020report or for a free security tips screen saver click the link
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About nobl Insurance, LLC
nobl Insurance, founded in 2017, has spent two years developing its first product. At product launch, it will become a U.S. regulated carrier, based in Michigan. nobl plans to launch their first product within the coming months and rollout access across the U.S in 2020. Other products under development are a new, cheaper AI driven auto product aimed at the 225 million drivers in the United States. A flood and crop insurance will harness weather and satellite data to help protect the millions of people, families and farmers affected by floods, landslides and natural disasters every year. nobl is committed to creating and offering easy, simple, affordable, straight-talking insurance to everyone.
nobl Insurance, LLC, 56849 Grand River Ave, Ste 12, New Hudson, MI 48165, United States Customer Services: +1-(857)-267-6625
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